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Income Distribution and Economic Growth: A Critical Approach

Philip Arestis and Carolina Troncoso ()
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Carolina Troncoso: Baltar University of Campinas, Brazil

Authors registered in the RePEc Author Service: Carolina Troncoso Baltar ()

Panoeconomicus, 2017, vol. 64, issue 2, 125-138

Abstract: The aim of this paper is to review the Kaleckian and post-Kaleckian literature on income distribution and economic growth and question the extent to which they analyse countries’ economic regimes and economic performances properly and appropriately to understand countries’ economic performances. The debate focuses on the inclusion of profit margin in the investment function as a way to characterize the effective demand regime in the neoliberal era as a profit-led growth regime. Our argument is that this inclusion is not able to evaluate properly the countries’ economic growth in terms of the consistency between its effective demand regimes and income distribution.

Keywords: Effective demand regime; Income distribution; Economic growth; Kalecki (search for similar items in EconPapers)
JEL-codes: E12 E25 O40 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:voj:journl:v:64:y:2017:i:2:p:125-138